No, Opening of a foreign currency account by Power of Attorney is not allowed. However, If can not be present in person you can use the Ethiopian Embassies, Correspondent Banks, or nearby Remittance service providers to prove your identity
Joint Account Definition
By definition, joint account holder has the same account access and responsibilities as the primary account holder. They can make deposits and withdrawals, transfer money, and pay bills. If you have a business, a common account can be a good way to give someone else authority to manage your account.
If you’re thinking about adding an account holder, there are a few things to keep in mind.
– First, you’ll need to choose someone you trust. This person should be someone you’re comfortable sharing your financial information with and who you know will manage the account responsibly.
– Second, you’ll need to make sure that both you and the joint account holder understand the account agreement. Be sure to review the account agreement together so that there are no surprises down the road.
– Finally, remember that you are jointly responsible for the account. This means that if the account has any involvement or attachment to negative/illegal activities both the accountholders will be held responsible for that action.